{"id":126840,"date":"2023-07-24T20:38:18","date_gmt":"2023-07-24T20:38:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/sellers-in-control-hints-sol-price-could-revist-20-crypto-news\/"},"modified":"2023-07-24T20:38:21","modified_gmt":"2023-07-24T20:38:21","slug":"sellers-in-control-hints-sol-price-could-revist-20-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sellers-in-control-hints-sol-price-could-revist-20-crypto-news\/","title":{"rendered":"Sellers In Control Hints $SOL Price Could Revist $20\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-155113\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/25020036\/I2XIzqTc-e1690230657932.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Solana Price Analysis\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/25020036\/I2XIzqTc-e1690230657932.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/25020036\/I2XIzqTc-e1690230657932-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/25020036\/I2XIzqTc-e1690230657932-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/25020036\/I2XIzqTc-e1690230657932-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 11 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Solana Price Analysis: <\/span><span style=\"font-weight: 400;\">The fast-recovering <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/solana\/#:~:text=Solana%20is%20currently%20trading%20at%2024.798.\">Solana coin price<\/a> has recently faced a sharp reversal from the $32 resistance.  Within a fortnight, the 9th largest cryptocurrency tumbled 27.9% and reached the current trading price of $23.34.  This correction phase is backed by low-volume activity indicating a temporary pullback as fewer market participants are interested in short positions.  How long before the SOL price resumes its prevailing recovery?<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/solana-price-analysis-heres-why-sol-price-recovery-hit-38-mark\/\">Solana Price Analysis: Here&#8217;s Why $SOL Price Recovery Could Surpass $32<\/a><\/p>\n<h2><b>Solana Price Daily Chart<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A bearish breakout from a lower support trendline hints the SOL price is at risk of a 13.5% fall<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Several technical supports accumulated near the $22.3 horizontal level create a strong demand zone.<\/span><span style=\"font-weight: 400;\">,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The 24-hour trading volume on the Solana coin is $484.5 Million, indicating a 25% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana Price Analysis\" width=\"1946\" height=\"1105\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/i\/I2XIzqTc.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/i\/I2XIzqTc.png\" alt=\"Solana Price Analysis\" width=\"1946\" height=\"1105\"\/><\/noscript>Source-Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the four-time frame chart, the Solana price shows the ongoing correction shapes into a bullish continuation pattern known as a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/pennant-pattern\/#:~:text=A%20pennant%20pattern%20has%20formed,the%20height%20of%20the%20flagpole.\">pennant<\/a>,  This chart setup usually offers a brief resting period to buyers before recuperating exhausted bullish momentum.  However, within the intraday loss of 5.61%, the sellers gave a bearish breakdown from the support trendline of this pattern.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">The bearish outcome from the bullish pattern is a strong sell signal, indicating the Solana price is poised for a longer correction.  If the coin price manages to sustain below the breached support, the sellers would obtain a new resistance to pressurize buyers.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">The post breakdown could plunge the price back to $22.5, followed by $20 and $18.5.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Will Solana Price Plunge to $20<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">With the overall trend bullish, the Solana price should resume the prior recovery once buyers obtain suitable support at a recently reclaimed level.  As per the Fibonacci retracement level, the $22.3 horizontal aligned with 50% and $20 level 61.8% FIB level could offer a solid springboard.  The anticipated recovery would give its first signal with a bullish breakout of the overhead trendline.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fibonacci retrenchment level: <\/b><span style=\"font-weight: 400;\">A correction to $22.2 support(50% <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/fibonacci-retracement\/\">FIB<\/a>) would be considered healthy to prolong the bull trend<\/span><b>,<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential moving average: <\/b><span style=\"font-weight: 400;\">The SOL price moving above 100-and 200-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> indicate the market sentiment remains positive<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA155113\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD155113\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 11 minutes ago Solana Price Analysis: The fast-recovering Solana coin price has recently faced a sharp reversal from the $32 resistance. Within a fortnight, the 9th largest cryptocurrency tumbled 27.9% and reached the current trading price of $23.34. This correction phase is backed by low-volume activity indicating a temporary pullback as fewer market participants [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":126841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-126840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/126840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=126840"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/126840\/revisions"}],"predecessor-version":[{"id":126842,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/126840\/revisions\/126842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/126841"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=126840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=126840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=126840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}